The deal follows moves into online B2B payment management services by other financial giants including Visa, Mastercard International, and American Express. Capital One and BlueTarp said they expect the acquisition to close in the Q3 2019.
BlueTarp’s products and services are designed to enable online B2B buyers to apply for financing as part of the purchase process on a seller’s website, with nearly instant approvals for buyers meeting financial requirements. As part of a broader “purchase-to-payment” process, BlueTarp’s technology covers a range of financial management tools including accounts receivable, cash flow, risk management and related services.
BlueTarp was founded in 1999 to provide credit services designed for suppliers of building materials, who could then increase their cash flow by extending BlueTarp’s instant financing to qualified buyers. BlueTarp’s clients include national and regional suppliers across multiple industries including office supplies, hardware, home-building, building materials, lumber, tools and industrial equipment.
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